First-time buyers spending 40% of pay on mortgages

Comments

• breadsmasher@lemmy.world ⁨4⁩ ⁨months⁩ ago

  Yes. house prices are insane.

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  • glimse@lemmy.world ⁨4⁩ ⁨months⁩ ago

    Pay went up by 5%? Awesome, prices and rent going up by 25%

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    • Omgpwnies@lemmy.world ⁨4⁩ ⁨months⁩ ago

      Pay went down? Rent still go up

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• wren@feddit.uk ⁨4⁩ ⁨months⁩ ago

  My first thought was that 40% was low… but I suppose I’ve never been a first time buyer, so they probably have higher salaries than I do

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  • 1rre@discuss.tchncs.de ⁨4⁩ ⁨months⁩ ago

    Yeah either you live in London so are paying at a minimum 1600/month or 20k/year for a 350k mortgage, or if you live in the north or less desirable parts of the south you’re gonna be paying 750/month or 9000/year for a 175k mortgage, either way if that’s 40%, once you consider bills, heating, food, transport (because no way can you afford to live within walking distance of work as a first time buyer) and whatever else you frankly don’t have a whole load left all in

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• Vaginal_blood_fart@feddit.uk ⁨4⁩ ⁨months⁩ ago

  Brit in the USA here. We are at 42% (Los Angeles, ca). Shits wild

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• moistclump@lemmy.world ⁨4⁩ ⁨months⁩ ago

  In Canada we’re supposed to be limited to 42% going to housing costs and that’s how they determine how much mortgage they’ll approve. I think most people are hitting that mark if not finding ways of going over.

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• feedum_sneedson@lemmy.world ⁨4⁩ ⁨months⁩ ago

  Shall I just kill myself, then?

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  • Emperor@feddit.uk ⁨4⁩ ⁨months⁩ ago

    No, kill everyone between you and the Throne.

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  • Isoprenoid@programming.dev ⁨4⁩ ⁨months⁩ ago

    The only winning move is to not play. /s

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• 10_0@lemmy.ml ⁨4⁩ ⁨months⁩ ago

  .

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